May 19
Echo Protocol Exploited for $76.7M in Admin Key Hack
Echo Protocol loses $76.7M via admin key exploit, highlighting 2026's rising DeFi vulnerabilities as attackers target eBTC on Monad.
β€ Echo Protocol, a DeFi platform on the Monad blockchain, lost $76.7 million in synthetic Bitcoin (eBTC) due to an admin key compromise, not a smart contract flaw. β€ The attacker minted unauthorized eBTC, laundered funds through Curvance and Tornado Cash, and still holds a significant amount of the stolen assets. β€ This incident highlights ongoing DeFi vulnerabilities in 2026, emphasizing the critical need for robust operational security measures like multi-signature protection and minting limits.
